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Frontera Successfully Refinances Existing Puerto Bahía Debt, Enters Into Credit Agreement Led By Macquarie For US$120 Million Loan Facility
Frontera Successfully Refinances Existing Puerto Bahía Debt, Enters Into Credit Agreement Le...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Successfully Refinances Existing Puerto Bahía Debt, Enters Into Credit Agreement Led By Macquarie For US$120 Million Loan Facility\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n New Loan Provides Flexibility To Invest In Key Strategic Initiatives\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 27, 2023\n \n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announces that Frontera's wholly-owned subsidiary, Pipeline Investment Limited (\"\n \n PIL\n \n \"), which owns a 35% equity interest in Oleoducto de los Llanos Orientales S.A. (\"\n \n ODL\n \n \"), and Macquarie Group (the \"\n \n Lender\n \n \") have entered into a credit agreement (the \"\n \n Credit Agreement\n \n \") through which the Lender will provide a\n \n US$120 million\n \n loan facility (the \"\n \n New Loan\n \n \") to PIL, guaranteed by Sociedad Portuaria Puerto Bahía S.A. (\"\n \n Puerto Bahía\n \n \"), Frontera Bahía Holding Ltd. (\"\n \n Frontera Bahia\n \n \"), and Frontera ODL Holding Corp., the parent company of PIL. The New Loan is effectively supported by the cash flows from Frontera's standalone and growing midstream business, is non-recourse to Frontera and remains subject to customary closing conditions.\n \n \n \n \n Gabriel de Alba\n \n , Chairman of the Board of Directors, commented:\n \n \n \n \n \"Frontera continues to generate shareholder value from across its portfolio by unlocking the sum of its parts. This Credit Agreement refinances\n \n Puerto Bahia's\n \n debt, extending its term to\n \n December 2027\n \n and most importantly, provides Frontera's midstream segment with optionality to execute its key strategic initiatives. The Company looks forward to continuing to build value for shareholders.\"\n \n \n \n \n \n Orlando Cabrales\n \n , Chief Executive Officer of Frontera, commented:\n \n \n \n \n \"\n \n Puerto Bahia\n \n is a state-of-the-art liquids and dry cargo facility port terminal strategical...